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KNOWLEDGE CHECK

Technical
PP&E - donated or restricted

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* Which is true about property and equipment disclosures?

All of the GAAP-required disclosures for property and equipment must be included in the notes even if the NFP has no property and equipment.

The note disclosure requirements for property and equipment for business entities should never be applied to NFPs.

An NFP should disclose material donor or legal limitations on the use of or proceeds from the disposal of assets.

An NFP should disclose the physical location of all real property the NFP owns.

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KNOWLEDGE CHECK

Technical PP&E - donated or restricted

Technical PP&E - donated or restricted

Check your knowledge on this topic

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Technical
PP&E - donated or restricted

Technical
PP&E - donated or restricted